Since yesterday's rally corresponded with significant technical breakout levels in the major indices, there is a good possibility stocks will now start working on another leg higher.

You either trade freely or you impose conditions in order to protect some special interest or promote some pet project. Then, it's not free anymore.

It was nearly a perfect session for the bulls today as the stock market indices gapped up at the opening, ran steadily all morning, slowed down the ascent, but continued to rise into late in the session and were near their session highs with less than a half hour to go before a little bit of a pullback chipped off a small chunk of the gains. Still, it was a very big day.

Spot gold prices rocketed again in overnight trading, reacting to Bank of Japan's cue to investors.

Download Adrian Manz's Around The Horn Intraday Trading Plan PDF for October 5.

Dave Landry takes a one-minute look at the stock market in his video for October 5.

Bullish sentiment may slowly be changing, so caution on the long side remains in order. But the major indices' consolidation patterns near their recent highs favors the bulls, and could lead to another leg up in the near-term.

The Russell 2000 is finding it hard going to penetrate the critical 680 level, and the waning appetite for the higher-beta stocks needs to be monitored for clues as to the near-term direction of US equities in general.

Aren't we in a period of major de-leveraging? Isn’t this the Great Correction? Isn't everything going down?

The stock market indices started off the week on a negative note from the get-go, opening lower, then bouncing, dropping to lower lows, bouncing one more time, and then really rolling over hard to the lows for the day by just before noon.